Pipeline Transportation Market to Exhibit at a CAGR of 11.59% from 2021 to 2028

The global pipeline transportation market is expected to reach USD 29.19 billion by 2028, at a CAGR of 11.59% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, November 8, 2021 /EINPresswire.com/ -- As per the report published by The Brainy Insights, the global pipeline transportation market is expected to reach USD 29.19 billion by 2028, at a CAGR of 11.59% from 2021 to 2028. Asia Pacific region is accounted for the highest market value of USD 3.18 Billion in 2020. The rise in per capita income has changed their lifestyle. So the demand for automobiles will increase. Also, people will visit places. This also would create the demand for fuel; these all factors would make this region to have the highest market share. North America seems to grow at a CAGR of 12.34% during the forecast period. This due to its advanced infrastructure.

Key players operating in the global pipeline transportation market include Alstom, ABB Ltd, Schneider Electric, Siemens, ESRI, Emerson, Trimble Navigation Limited, Rockwell Automation, FMC Technologies and Alcatel-Lucent, among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global pipeline transportation industry. In September 2019, Arkad-ABB Spa signed an EPC&F contract with Bulgartransgaz EAD for the gas pipeline expansion in Bulgaria.

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The type of treatment segment is divided into oil and gas, coal, water and others. Oil and Gas accounted for the largest market value of USD 6.76 Billion in 2020. This is because of the developing infrastructure and increasing demand for automobiles as the per capita income has increased in many developing countries, which in turn creating the need for oil and gas. The pipeline type segment includes gathering pipeline, transmission pipeline and distribution pipeline. The transmission pipeline accounts for 41.27% of market share in 2020. This is because transmission line are mostly used in the transportation of oil or gas etc. between cities. This is also used for the transportation of energy between countries. The solution segment includes security solution, automation and control solution, integrity & tracking solution and network communication solution. The security solution segment accounted for the largest market value of around USD 3.83 Billion in 2020. As the security concern holds the major concern pipeline transportation. The service segment includes consulting services, management services, and maintenance and support services. The consulting segment is expected to have the highest CAGR of 16.77% during the forecasting period. This is due to the recent trend of involvement of third party who are expert in monitoring and securing the pipeline and hold the expertise on it.

The end-user segment includes the transportation industry, refiners & manufacturers, agriculture industry and heating resources. The refiners and manufacturers segment is expected to have the highest market value of USD 3.16 Billion in 2020. This is because this segment widely uses pipeline transportation for oil and gas refining and then send it for commercial, domestic and industrial purposes

Pipeline System is the most efficient way of transporting a large amount of natural gas or oil when compared to ships, trucks or railway. The oil and natural gas are highly inflammable in nature. Any kind of leakage etc. could be fatal. The pipeline monitoring is also important as there could be a risk that it can be sabotaged and vandalised. These factors are acting as a restraint for the market.

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